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Insurance.. 

 

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 Post subject: Insurance..
Posted: Sat Nov 20, 2004 4:19 pm 
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I am thinking about doing a sub install 2x12' or 1 15'. My question is if i set up a amplifier will my insurance go up, do i have to tell the insurance company and if i have an accident and i haven't told the insurance company will they still cover it?

Im pretty sure the answers will be yes, yes and no. Can some one shed some light on this subject? By the way i don't know the name of the insurance company, my dad does all the work :wink:

 

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Posted: Sat Nov 20, 2004 4:26 pm 
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Honestly i wouldnt bother telling them - unless you wish for it to be covered incase of theft..
It shouldnt make a difference to them insuring u, its only something you carry in your boot lol, not like youve got a working turbo back there pumping out 300+rwkw that you havnt told them about LOL! :lol:

 

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Posted: Sat Nov 20, 2004 5:28 pm 
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Daniel wrote:
Honestly i wouldnt bother telling them - unless you wish for it to be covered incase of theft..
It shouldnt make a difference to them insuring u, its only something you carry in your boot lol, not like youve got a working turbo back there pumping out 300+rwkw that you havnt told them about LOL! :lol:


Glad to hear.
My main concern was the amplifier because it's wired to battery i thought that they would have some thing against it and maybe bring that up if I have an accident.

 

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Posted: Sat Nov 20, 2004 8:13 pm 
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it cost $25 for $1200 worth of audio in the car. i have installed a system. i think it will have to go up to $1600 because i have put another amp in. did it just to be on the safe side. thats what insurance is for.
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Posted: Sat Nov 20, 2004 9:02 pm 
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Yep, as i said if you want it covered let them know, its not like it will cost the earth however most companies will have an audio/visual insurance limit of either 3-5k as ive found.. Just ring up n ask how much it will go up, dont give them your details or anything, just a general inq. will find it more than likely $50-$80 pa max in your situation i rekon. :)

 

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Posted: Sat Nov 20, 2004 9:10 pm 
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I highly recommend that you tell your insurance company about EVERYthing! They'll always find some loophole to not cover you!

 

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Posted: Sat Nov 20, 2004 9:21 pm 
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Daniel wrote:
Yep, as i said if you want it covered let them know, its not like it will cost the earth however most companies will have an audio/visual insurance limit of either 3-5k as ive found.. Just ring up n ask how much it will go up, dont give them your details or anything, just a general inq. will find it more than likely $50-$80 pa max in your situation i rekon. :)


Most also have a condition where the value of the AV equipment cant exceed 20% of the market value of the car.

Thats a bit tough when just one of your amps is worth $3800, in an EF GLi Wagon :(

 

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Posted: Sat Nov 20, 2004 9:52 pm 
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All points have been covered. Insurance company does not need to know unless you want it covered. It will not void the insurance if you make a claim. They usually only cover 20-30% of vehicle value. However if you do have an acident (rear ended) and you have a nice boot install you may have to take it out cos half the crash repairs have no idea where all the audio goes and comes from when repairing the rear end and it is in their way.

 

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Posted: Sun Nov 21, 2004 12:10 am 
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Thanks for the advice,
My main worry was if the car is covered in event off a crash, theft doesn't really concern me as 1. It won't be expensive gear and 2. The car looks quite subtle only rims.
I apreciate the advice.
Cheers lads

 

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Posted: Sun Nov 21, 2004 1:44 am 
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Personally I'd get your insurance to cover your Head Unit as that is the most likely thing to be stolen. And if you spend heaps, and get some of the top range gear i'd put it on. Cause if you do get it taken, you could be forking out, more than what your premium would go up by. Some insurance companies won't even raise ur premium for accessories, so check with them first.

 

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Posted: Sun Nov 21, 2004 10:23 am 
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Mosty insurance companies don't give a toss, or just let you say that you have a 'sound systemt o the value of $x.xx". That way you don't have to list specifics and your sound system is covered for it's value. But most wouldn't mind if you don't tell them about it - but then it's not covered. Most insurance companies also let you have a certain amount or value of accessories before they increase the insurance price.

 

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Posted: Sun Nov 21, 2004 11:22 pm 
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i recently advised my insurance company of my audio system to the value of $1500 and there was no extra premium but now its covered, its only a phone call to find out!
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Posted: Mon Nov 22, 2004 1:34 am 
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with my insurance they only asked me what the purchase price of the stereo was, and added it to my policy. I think it added about 60 cents a month to my premium, well worth it, even if it is "cheaper" stuff.

 

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Posted: Mon Nov 22, 2004 9:55 am 
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Chicken wrote:
I highly recommend that you tell your insurance company about EVERYthing! They'll always find some loophole to not cover you!


This is a load of crap!

If you don't want the stereo covered due to increase in premium. Don't tell them but keep photo's of the install and all the receipts. Don't keep them in the car1
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Posted: Mon Nov 22, 2004 10:06 am 
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LTDHO wrote:
Chicken wrote:
I highly recommend that you tell your insurance company about EVERYthing! They'll always find some loophole to not cover you!


This is a load of crap!

If you don't want the stereo covered due to increase in premium. Don't tell them but keep photo's of the install and all the receipts. Don't keep them in the car1


So what if there is a problem with the amp and it burns the car to the ground? Duty of disclosure can act in funny ways.

It is possible to tell them about it without it being included in the policy.

I dont the exact answer, sorry. But do you want to take the undue risk? I'd say a friendly phone call is not a bad idea, just to know their stance on it. It's only going to consume 1 minute of your day. Takes longer to make a cup of coffee.

 

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